State Street Bank is launching a series of tokenized products. The bank will develop tokenized money market funds, exchange-traded funds (ETFs), as well as tokenized deposit and stablecoin cash products. Joerg Ambrosius, President of State Street Investment Services, stated that the launch of the digital asset platform is an important step in State Street's strategy.

State Street currently oversees $51.7 trillion in assets and has previously provided management and accounting services for crypto ETFs. In December last year, it also partnered with Galaxy Digital to create a tokenized fund, and in the future, it will consider offering custody services based on regulatory developments.